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Customer survey reveals high satisfaction rates with EPEX SPOT services

Exchange Council informed about foreseen implications of Brexit and go-live of first Local Flexibility Market

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13.03.2019

Lausanne / Paris

At the quarterly meeting of the EPEX SPOT Exchange Council the members discussed the results of the recently conducted customer survey initiated by EPEX SPOT in December 2018. Satisfaction with services of the Exchange has increased to 88%. “Especially the items on quality of service have seen rising satisfaction levels, which encourages us that we are on the right path in terms of customer care” comments Jonas Törnquist, Chief Operating Officer of the Exchange. “The stability of our continuous Intraday trading system is close to 100% and as we are aware that system stability remains the top priority of our members, we are committed to continuously increase performance and robustness for both auction and continuous trading systems” he adds.

An important operational point on the agenda of the Council was the approaching Brexit and its implications for Market Coupling and market operations in Great Britain. From a purely operational stance, EPEX SPOT currently expects that all Day-Ahead and Intraday trading products and their respective procedures remain unchanged, even if the British market should be decoupled due to a no-deal Brexit. Euphemia will remain the algorithm used to calculate the reference price on the Day-Ahead market. The continuity of clearing will be ensured through European Commodity Clearing (ECC). The Exchange Council welcomes EPEX SPOT’s efforts to ensure readiness and to secure a smooth transition for market participants.

The members of the Exchange Council were furthermore informed about the successful go-live of Enera on 4 February 2019. Enera is the first demonstrator of a Local Flexibility Market developed by Avacon Netz, EWE NETZ and TenneT together with EPEX SPOT and further project partners. It is an exchange based solution that allows market participants to trade flexibility to alleviate congestions on the grid. “For the Exchange Council these are very interesting news. As a concrete use case of a Local Flexibility Market, we are looking forward to the exhaustive analysis of the Enera market at the end of this two year demonstration phase” says Bernhard Walter, Chairman of the EPEX SPOT Exchange Council. “The interest of Exchange members in questions on market design and product development remains high, and we look forward to new products to be developed in 2019” he adds.

The first Exchange Council meeting of 2019 was held on 12 March 2019 in Lausanne.

-Ends

 

The Exchange Council of EPEX SPOT is an official body of the Exchange. 26 members and 4 permanent guests represent adequately the diversity of economic and corporate profiles that exists among the Exchange Members from various sectors: producers, power trading companies, transmission system operators, regional suppliers and financial service providers, as well as commercial consumers and academics. Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments. The Exchange Council approves new trading systems as well as new contracts or market areas and approves the appointment of the Head of the Market Surveillance Office. It meets up quarterly.

 

The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. In 2018, its 289 members traded 567 TWh – a third of the domestic consumption in the eight countries covered. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.

 

Anhang Typ Größe
Pressemitteilung PDF 124,7 kB
 
 

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